Cadwalader’s recent Clients & Friends Memo covers Article 44 of the EU’s Securitisation Regulation (“SECR”) which requires the Joint Committee of the European Supervisory Authorities (“ESAs”) to produce a report every three years on: (a) the implementation of requirements for simple, transparent and standardised securitisations (“STS”); (b) competent authorities’ actions on material risks, new vulnerabilities and market participants’ efforts to further standardise securitisation documentation; (c) the functioning of due diligence and transparency requirements and whether transparency enables sufficient regulatory oversight; and (d) compliance and “modalities” of the risk retention requirement.

Read more here.